Family business roundup: Mixed results for Kering, Ford; optimism at Pernod Ricard

Kering and Ford record mixed results for the first quarter of 2013, with figures varying greatly by region and division; Pernod Ricard reported growth in its third quarter.

PPR/ Kering
In Paris, luxury and lifestyle group Kering said revenues rose €2.4 billion, up 3.1% on a comparable basis to the first quarter of 2012.

Turnover from its sport and lifestyle division fell 2.5%, mainly due to slow sales at Puma, but revenues at Kering's luxury division grew 6.4%, with growth in all geographic regions.

Second-gen chairman and chief executive Francois-Henri Pinault said in a statement: "Sales of our sport & lifestyle division contracted somewhat in the first months of the year. Following the appointment of its new chief executive, Bjorn Gulden, Puma will step up the pace of implementation of its transformation plan."

Pernod Ricard
Drinks company Pernod Ricard – controlled by the Ricard family – reported organic growth of 4% for the first nine months of its 2012/13 financial year, with sales of €6.7 billion.

It achieved the fastest growth in emerging markets, with a 10% increase in revenues, although this was slightly slower than last years figure of 11%. The US remained strong with a 7% increase, and even western Europe achieved 2% growth despite slow economic conditions there.

Ford
Ford had mixed results for the first quarter of 2013. The carmaker, controlled by the eponymous family, reported a revenue increase of 10.5% to $35.8 billion (€27.5 billion), compared with the first quarter of 2012.

Net income was up 14.3% to $1.6 billion, but this strong performance was realised almost entirely in North America. Pre-tax profits in the region reached a record high of $2.4 billion, up 14.3% for the same period in 2012. 

However, poor sales in Europe undermined these results. Revenue there fell 6.9% to $6.7 billion, and it made an overall loss of $462 million in the region. Ford predicts that its full year losses in Europe will reach $2 billion.